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WageWorks Investor Sues to Block $2 Billion HealthEquity Deal

Aug. 15, 2019, 10:21 PM

WageWorks Inc. shareholder claims proxy statement omitted or misrepresented information about the company’s financial projections and valuation analyses, making it impossible for investors to cast informed votes on the proposed sale, according to lawsuit filed Aug. 15 in San Francisco.

  • WageWorks and HealthEquity announced in June that they had agreed to merge the two companies. Under the agreement, WageWork stockholders will receive $51.35 per share.
  • WageWorks administers consumer-directed benefits that companies provide to employees. The accounts include pre-tax spending accounts, commuter benefit services and wellness programs.
  • The case is Krueger v. WageWorks, 3:19-cv-04903, in U.S. District Court, Northern District of ...